DNA Models Leases Office Space At 555 West 25th Street In Chelsea
White Space Chelsea, 555 West 25th Street, New York, NY, USA
Building Size
9,000 SF
Asset Type
Office
Closing
Jan 11, 2021
AI
Located in the Chelsea market, the office property at 555 West 25th Street recently underwent a lease transaction. The tenant, @DNAModels, secured a lease agreement with the landlords, Mactaggart Family & Partners and Rigby Management. The deal was facilitated by brokers Brett Harvey and Kyle Riker from JLL. The office space, spanning approximately 9,000 square feet, was offered at an asking rent of $55-$67 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Lease
- Address: 555 West 25th Street
- Market: Chelsea
- Tenant: @DNAModels
- Landlord: Mactaggart Family & Partners, Rigby Management
- Brokers: Brett Harvey & Kyle Riker - JLL
- Asking Rent: $55-$67/ft. (Approx.)
- Square Footage: 9,000
It is worth noting that @DNAModels, founded in 1996 by Jerome & David Bonnouvrier, represents esteemed clients such as @Emrata, @Naomi, and @KaiaGerber. The property at 555 West 25th Street was last sold for $43.3 million in April 2019.
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93